❓ Dr. Steve Thomas questions the Minister regarding the differences between a financial assistance agreement and a 'process agreement' related to taxpayer funds provided to Griffin Coal, seeking justification for the latter.
AnsweredQoN 991Legislative Council
Asked
12 September 2023
Member
Portfolio
State and Industry Development, Jobs and Trade
QuestionView source ↗
GRIFFIN COAL —
LIQUIDATOR
991. Hon Dr STEVE THOMAS to the minister representing the
Minister for State and Industry Development, Jobs and Trade:
I refer to my questions without
notice in the last week of August 2023 pertaining to the execution of financial assistance agreements between the state and
Griffin Coal in which the minister said that two FAAs had been executed between the state and Griffin Coal—the
first on 11 January 2023, but amended on 19 May 2023; and a further FAA of 14 August 2023, which the minister termed the ''process agreement''.
(1) What is the difference between
a financial assistance agreement and a process agreement?
(2) What variance
in compliance regimes or obligations between both parties exist in an FAA
versus a process agreement?
(3) Who or whom
determined that a process agreement between the state and Griffin Coal for the
third tranche of taxpayer bailout money was the appropriate mechanism; and on
what advice, basis or rationale was the decision taken?
LIQUIDATOR
991. Hon Dr STEVE THOMAS to the minister representing the
Minister for State and Industry Development, Jobs and Trade:
I refer to my questions without
notice in the last week of August 2023 pertaining to the execution of financial assistance agreements between the state and
Griffin Coal in which the minister said that two FAAs had been executed between the state and Griffin Coal—the
first on 11 January 2023, but amended on 19 May 2023; and a further FAA of 14 August 2023, which the minister termed the ''process agreement''.
(1) What is the difference between
a financial assistance agreement and a process agreement?
(2) What variance
in compliance regimes or obligations between both parties exist in an FAA
versus a process agreement?
(3) Who or whom
determined that a process agreement between the state and Griffin Coal for the
third tranche of taxpayer bailout money was the appropriate mechanism; and on
what advice, basis or rationale was the decision taken?
AnswerView source ↗
I thank the Leader of the
Opposition for some notice of the question.
(1)–(2) The
process agreement is similar to the previous financial assistance agreements
but contains additional terms that apply to Griffin's receivers and
managers, such as additional reporting requirements.
(3) Senior public
servants recommended the process agreement as an appropriate mechanism, based
on commercial and legal advice.
Hon Dr Steve
Thomas : I hope they tell us what the changes are.
Opposition for some notice of the question.
(1)–(2) The
process agreement is similar to the previous financial assistance agreements
but contains additional terms that apply to Griffin's receivers and
managers, such as additional reporting requirements.
(3) Senior public
servants recommended the process agreement as an appropriate mechanism, based
on commercial and legal advice.
Hon Dr Steve
Thomas : I hope they tell us what the changes are.
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